Lego Cuts 1,400 Jobs as Sales Slump on Weak ‘Batman’ Demand
- Danish toymaker to cut 8% of workforce as ‘momentum’ wanes
- Move follows executive turnover after decade of strong growth
Lego Chairman Says Business Became 'Too Complex'
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Lego A/S plans to cut 1,400 jobs as the Danish toymaker struggles with weak demand for a new line of “Batman” play sets that’s contributing to its worst downturn in more than a decade.
The company said it would reduce its workforce by 8 percent after a decade of rapid expansion more than doubled it to the current level of about 18,200. The move came after Europe’s largest toymaker said Tuesday that sales in the first half fell 5 percent to 14.9 billion kroner.